Oklahoma Bankers Association We make bankers better!
In spite of all of the impeachment noise late last month, the industry was successful in obtaining passage of the Secure and Fair Enforcement Banking Act (the SAFE Act) by a strong bipartisan vote: 323-101. While far from perfect, the SAFE Act is at least a step in the right direction for the industry. While I would have preferred different …
October 2019
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October 27, 2019
Hall of Fame inductees unveiled
The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 5 in Oklahoma City. John V. Anderson, with F&M Bank in Crescent; Mick Thompson, with the Oklahoma State Banking Department; Clark and Wanda Bass, with First National Bank & Trust Co., in McAlester; and Morrison Tucker, a …
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October 27, 2019
New language in Act seeks parity for banks, credit union
Section 2821 of the National Defense Authorization Act for the 2020 fiscal year includes a significant change that means a more-level playing field between banks and credit unions located on military installations. The issue has to do with how banks are now required to compete with credit unions on military bases and posts beyond their tax-exempt status. Credit unions currently …
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October 23, 2019
House passes AML modernization bill in bipartisan vote
The House voted late Tuesday 249-173 to pass the Corporate Transparency Act (H.R. 2513). The legislation, sponsored by Rep. Carolyn Maloney (D-N.Y.), would direct the Financial Crimes Enforcement Network to create a national database that banks could use to verify a business’s beneficial ownership information. The bill was amended before passage to include legislation championed by Rep. Emanuel Cleaver (D-Mo.) …
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October 22, 2019
Week of Oct. 21
In This Issue… Supreme Court to hear CFPB constitutionality claim BSA/AML bills to be considered by House Final Bankers’ Night Outs set for this week OBA education corner …
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October 21, 2019
October 2019 OBA Legal Briefs
Residential appraisal threshold raised 2019 Oklahoma legislation Watch for new CTR filing instructions Residential appraisal threshold raised By John S. Burnett Agencies issue joint rule The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have adopted a final rule that increases the threshold for residential real estate transactions requiring an appraisal from …
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October 21, 2019
Credit card delinquencies fall as other consumer delinquencies rise
Consumer credit delinquencies were mixed in the second quarter, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the ABA’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories tracked by ABA while three categories fell. The composite ratio, which tracks …
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October 15, 2019
Week of Oct. 14
In This Issue… Credit card delinquencies fall as other consumer delinquencies rise Bankers’ Night Out events wrap up next week OBA education corner …
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October 11, 2019
Reviewing CFPB’s latest supervisory highlights
The Consumer Financial Protection Bureau recently released its Summer 2019 Supervisory Highlights, which includes key findings from the CFPB’s exams for the most part between December 2018 to March 2019. In each edition, the Bureau chooses the areas where it has seen the most supervisory activity, and for this one, it highlighted auto loan origination, credit card account management, debt …
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October 9, 2019
Oklahoma banks preach patience as Paycheck Protection Program launches
OKLAHOMA CITY — With the COVID-19 pandemic impacting communities and businesses across the state, Oklahoma banks are focused on helping as much as they can. The Paycheck Protection Program will offer some relief to small businesses in Oklahoma as it launches on Friday, April 3. Oklahoma bankers, however, do ask for patience from the public as the program begins. Financial …